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New FTX CEO Discusses Possibility of Rebooting Defunct Crypto Exchange in First Interview Since Taking Over

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Following recent disclosure that FTX debtors and bankruptcy administrators located $5.5 billion in liquid assets, the new FTX CEO John J. Ray III discussed the business in his first interview since taking over the exchange’s restructuring process. Ray detailed during the interview that he is open to the possibility of reviving the now-defunct digital currency … Read more

FTX’s $5.5 Billion in Alleged ‘Liquid Assets’ Includes Locked SOL Cache and Illiquid FTT Holdings

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Two days ago, bankruptcy administrators and FTX debtors published an update for unsecured creditors claiming the discovery of $5.5 billion in liquid assets. Roughly $3.5 billion of these funds are cryptocurrency assets, with 11 different digital currencies classified as “liquid assets.” However, two of the firm’s top cryptocurrency caches are not liquid as the company’s … Read more

Sam Bankman-Fried Disputes FTX US ‘Shortfall’ Claims, Critics Skeptical of Excel Spreadsheet Defense

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Following an update from FTX debtors about the $5.5 billion discovered by administrators during an investigation, former FTX CEO Sam Bankman-Fried (SBF) took to Twitter to share a blog post from his Substack newsletter. SBF stated that the presentation published by litigation firm Sullivan & Cromwell is “extremely misleading” and that FTX US is solvent … Read more

FTX Discovers $5.5B in Liquid Assets — Debtors Explore Ways to Maximize Recovery via Potential Sale of Subsidiaries, Real Estate

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On Jan. 17, 2023, FTX Trading Ltd. and affiliated debtors updated the public and detailed that the firm’s current administrators have discovered $5.5 billion of liquid assets to date. Top-level executives, including the new FTX CEO and chief restructuring officer, John J. Ray III, met with the bankruptcy case’s committee of unsecured creditors to share … Read more

Defunct Crypto Hedge Fund Three Arrows Capital Founders Seek $25 Million to Start New Exchange Amid Scrutiny

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According to reports, the founders of the now-defunct crypto hedge fund Three Arrows Capital (3AC) are seeking to raise $25 million from investors to start a new crypto exchange called GTX. This solicitation for new capital comes after 3AC co-founders Su Zhu and Kyle Davies were subpoenaed over the social media platform Twitter. Pitch Deck … Read more

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